Sri Lanka’s rich biodiversity could become a significant competitive advantage for local businesses as global markets increasingly place value on responsible production, sustainability and nature-positive business practices.
The message emerged at the opening plenary of the 11th Annual Technical Sessions of Biodiversity Sri Lanka, held at Shangri-La Colombo under the theme “Beyond Borders: Partnering for Business to Prosper with Nature.”
The discussion brought together Dr Nishan de Mel, Founder and Executive Director of Verité Research; Dr Ruchira Somaweera, National Technical Executive (Ecology) at WSP Australia and Adjunct Professor at Murdoch University; Siddarth Hirdaramani, Director of Hirdaramani Group and Biodiversity Sri Lanka; and Shiranee Yasaratne, Senior Technical Advisor at Biodiversity Sri Lanka.
Hirdaramani highlighted Sri Lanka’s apparel sector, noting that the country cannot compete with major manufacturing nations purely through lower costs or scale. Instead, strong environmental credentials, labour standards and social compliance can differentiate Sri Lankan businesses and attract customers willing to pay a premium for responsible production.
Dr de Mel emphasised that nature represents a critical but often inadequately measured economic asset, while the discussion underscored the growing need for companies to incorporate biodiversity into risk management, supply chains and long-term strategy.
The panel highlighted that protecting natural capital is increasingly becoming an economic imperative rather than solely an environmental responsibility.
